Basis: Trailing twelve months (TTM), to the latest fiscal quarter end. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the return on invested capital (ROIC) high or low?
The return on invested capital (ROIC) of 20.41% is 214% above its 5-year average of -17.91%, near the high end of its 5-year range (-60.35%–20.41%).
As of the fiscal period ended Tuesday, June 30, 2026. 510.74% above its 12-month average of 3.34%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 20.41%.
RETURN ON INVESTED CAPITAL (ROIC)
20.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
3.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-0.97%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-17.91%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+510.74%
CURRENT VS 3Y AVG
+2203.43%
CURRENT VS 5Y AVG
+213.98%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
-28.69%
median of 497 covered companies
CURRENT VS SECTOR MEDIAN
+171.14%
vs the sector median at left
Eton Pharmaceuticals, Inc.
Market Cap
$1.53B
Return on Invested Capital (ROIC)
20.41%
TTM Avg
3.34%
3Y Avg
-0.97%
5Y Avg
-17.91%
Market Cap
$1.53B
Return on Invested Capital (ROIC)
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.52B
Return on Invested Capital (ROIC)
-19.87%
TTM Avg
-24.87%
3Y Avg
-20.19%
5Y Avg
-15.68%
Market Cap
$1.54B
Return on Invested Capital (ROIC)
8.36%
TTM Avg
8.44%
3Y Avg
9.74%
5Y Avg
16.58%
Market Cap
$1.56B
Return on Invested Capital (ROIC)
0.59%
TTM Avg
0.35%
3Y Avg
-0.10%
5Y Avg
-0.25%
Market Cap
$1.47B
Return on Invested Capital (ROIC)
16.83%
TTM Avg
6.43%
3Y Avg
6.32%
5Y Avg
5.53%
Market Cap
$1.46B
Return on Invested Capital (ROIC)
47.55%
TTM Avg
-5.71%
3Y Avg
-17.68%
5Y Avg
-14.30%
Market Cap
$1.44B
Return on Invested Capital (ROIC)
-38.09%
TTM Avg
-38.09%
3Y Avg
-38.09%
5Y Avg
-38.09%
Market Cap
$1.42B
Return on Invested Capital (ROIC)
-24.52%
TTM Avg
-24.52%
3Y Avg
-24.52%
5Y Avg
-24.52%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Eton Pharmaceuticals, Inc. (ETON) | $1.53B | 20.41% | 3.34% | -0.97% | -17.91% |
| Braveheart Bio, Inc. (BRVE)vs › | $1.53B | N/A | N/A | N/A | N/A |
| GH Research PLC (GHRS)vs › | $1.52B | -19.87% | -24.87% | -20.19% | -15.68% |
| Innoviva, Inc. (INVA)vs › | $1.54B | 8.36% | 8.44% | 9.74% | 16.58% |
| Certara, Inc. (CERT)vs › | $1.56B | 0.59% | 0.35% | -0.10% | -0.25% |
| Healthcare Services Group, Inc. (HCSG)vs › | $1.47B | 16.83% | 6.43% | 6.32% | 5.53% |
| AnaptysBio, Inc. (ANAB)vs › | $1.46B | 47.55% | -5.71% | -17.68% | -14.30% |
| Hemab Therapeutics Holdings, Inc. Common Stock (COAG)vs › | $1.44B | -38.09% | -38.09% | -38.09% | -38.09% |
| Kailera Therapeutics, Inc. (KLRA)vs › | $1.42B | -24.52% | -24.52% | -24.52% | -24.52% |
| Alphatec Holdings, Inc. (ATEC)vs › | $1.66B | -7.32% | -17.29% | -24.58% | -25.54% |
ROIC
20.4%
ROE
27.2%
ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)
Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2026-06-30 | 20.41% |
| 2026-03-31 | 3.12% |
| 2025-12-31 | -1.35% |
| 2025-09-30 | -4.25% |
| 2025-06-30 | -1.23% |
| 2025-03-31 | -3.86% |
| 2024-12-31 | -4.62% |
| 2024-09-30 | -25.70% |
| 2024-06-30 | -34.36% |
| 2024-03-31 | 2.08% |
| 2023-12-31 | -5.71% |
| 2023-09-30 | 8.22% |
| 2023-06-30 | -2.12% |
| 2023-03-31 | -32.11% |
| 2022-12-31 | -42.14% |
| 2022-09-30 | -45.59% |
| 2022-06-30 | -55.92% |
| 2022-03-31 | -60.35% |
| 2021-12-31 | -6.15% |
| 2021-09-30 | -45.79% |
| 2021-06-30 | -38.67% |
| 2021-03-31 | -44.81% |
| 2020-12-31 | -118.88% |
| 2020-09-30 | -266.19% |
| 2020-06-30 | -176.28% |
| 2020-03-31 | -131.19% |
| 2019-12-31 | -123.11% |
| 2019-09-30 | -147.02% |
| 2019-06-30 | -92.72% |
| 2019-03-31 | -77.02% |
| 2018-12-31 | -39.24% |
| 2018-09-30 | -218.17% |
| 2018-06-30 | -166.85% |
| 2018-03-31 | -127.16% |
